Pending home sales rise 2.0% in December, NAR says

By Jeffry Bartash

WASHINGTON (MarketWatch) – Pending home sales rose 2.0% in December for the fifth increase in the past six months, according to an index released Thursday. The National Association of Realtors said its pending home sales index rose to 93.7 from a downwardly revised 91.9 in November. The index is still 4.2% below the level in December 2009, however. The data reflects contracts and not closings, which normally occur with a lag time of one or two months. The index is based on a large national sample, typically representing about 20% of transactions for existing-home sales.

We are certainly seeing a rising trend in Under Contract properties in the Vail Valley. See the chart below:

January looks to be on a similar trend with 79 properties already under contract. It appears that buyers are coming back into the market. It is probably due to sellers finally getting realistic with their pricing. Properties will sell if priced right.